Canadian company Matador Technologies has announced a significant plan to accumulate Bitcoin as part of its new crypto-focused business strategy.
Bitcoin Accumulation Strategy
Matador Technologies plans to increase its Bitcoin holdings from the current 77.4 BTC to 6,000 BTC by 2027, which accounts for approximately 1% of the total Bitcoin supply. CEO Deven Soni emphasized, "Our business is structured around Bitcoin as a core asset."
Funding Expansion
To finance its Bitcoin treasury expansion, Matador Technologies filed a $900 million Canadian dollar (approximately $656 million USD) shelf prospectus, allowing flexible funding options. These options include equity offerings, convertible financings, and partnerships that align with the company’s growth.
Market Impact
Despite its ambitious plans, Matador Technologies’ stock fell by 4.65% on the announcement day. However, the stock has risen approximately 37% so far this year. Corporate Bitcoin treasuries globally now hold around 6% of the circulating Bitcoin supply.
With its ambitious Bitcoin accumulation plans, Matador Technologies marks an important step in the growing sector of corporate Bitcoin investments.
